2024 Q1 Form 10-Q Financial Statement

#000163279024000022 Filed on February 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $663.3M $716.6M $811.1M
YoY Change -3.04% -6.34% 2.62%
Cost Of Revenue $410.0M $449.6M $486.4M
YoY Change -4.83% -3.68% -1.78%
Gross Profit $253.3M $267.0M $324.7M
YoY Change 0.0% -10.49% 9.99%
Gross Profit Margin 38.19% 37.26% 40.03%
Selling, General & Admin $122.5M $128.1M $148.4M
YoY Change 3.55% 6.4% 1.3%
% of Gross Profit 48.36% 47.98% 45.7%
Research & Development $7.900M $7.800M $8.500M
YoY Change -1.25% 2.63% -9.57%
% of Gross Profit 3.12% 2.92% 2.62%
Depreciation & Amortization $28.90M $30.00M $29.70M
YoY Change -4.93% -6.54% -8.9%
% of Gross Profit 11.41% 11.24% 9.15%
Operating Expenses $130.4M $135.9M $222.3M
YoY Change 3.25% 6.17% 29.24%
Operating Profit $122.9M $131.1M $102.4M
YoY Change -3.23% -23.02% -16.88%
Interest Expense $38.70M $40.70M -$43.10M
YoY Change -7.86% -5.13% -5.9%
% of Operating Profit 31.49% 31.05% -42.09%
Other Income/Expense, Net -$5.500M -$19.00M
YoY Change 587.5% -1457.14%
Pretax Income $42.40M $9.400M $22.60M
YoY Change -15.87% -84.91% -104.76%
Income Tax $10.00M $7.500M $2.900M
% Of Pretax Income 23.58% 79.79% 12.83%
Net Earnings $32.40M $1.900M $19.70M
YoY Change -19.0% -96.12% -105.43%
Net Earnings / Revenue 4.88% 0.27% 2.43%
Basic Earnings Per Share $0.45 $0.03
Diluted Earnings Per Share $0.45 $0.03 $0.27
COMMON SHARES
Basic Shares Outstanding 71.78M shares 71.58M shares 71.49M shares
Diluted Shares Outstanding 72.60M shares 72.60M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $158.1M $241.7M $223.3M
YoY Change -18.38% -13.77% 8.77%
Cash & Equivalents $158.1M $241.7M $223.3M
Short-Term Investments
Other Short-Term Assets $33.40M $33.60M $37.00M
YoY Change 6.03% -1.47% -13.75%
Inventory $666.1M $640.6M $649.7M
Prepaid Expenses $103.9M $117.0M $83.60M
Receivables $333.9M $376.4M $511.6M
Other Receivables $62.90M $0.00 $51.40M
Total Short-Term Assets $1.358B $1.471B $1.557B
YoY Change -8.72% -8.17% -2.1%
LONG-TERM ASSETS
Property, Plant & Equipment $386.9M $384.3M $363.7M
YoY Change 10.45% 8.53% -21.31%
Goodwill $1.022B $1.024B $1.016B
YoY Change 0.27% 0.75% 1.31%
Intangibles $1.209B $1.224B $1.238B
YoY Change -4.59% -4.48% -4.48%
Long-Term Investments
YoY Change
Other Assets $126.6M $131.8M $148.6M
YoY Change -12.39% -17.11% -6.66%
Total Long-Term Assets $2.929B $2.953B $2.953B
YoY Change -0.65% -0.78% -0.98%
TOTAL ASSETS
Total Short-Term Assets $1.358B $1.471B $1.557B
Total Long-Term Assets $2.929B $2.953B $2.953B
Total Assets $4.287B $4.424B $4.510B
YoY Change -3.36% -3.36% -1.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $362.0M $374.6M $370.8M
YoY Change 9.9% 6.21% 12.57%
Accrued Expenses $162.5M $17.30M $213.5M
YoY Change 0.31% -90.58% 3.19%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $2.200M $8.200M
YoY Change -50.0% 28.12%
Long-Term Debt Due $12.80M $12.90M $12.00M
YoY Change 4.07% 4.03% 0.0%
Total Short-Term Liabilities $668.1M $724.4M $734.2M
YoY Change 4.9% 3.93% 5.2%
LONG-TERM LIABILITIES
Long-Term Debt $3.226B $3.303B $3.332B
YoY Change -5.53% -5.8% -4.78%
Other Long-Term Liabilities $113.7M $133.2M $47.80M
YoY Change -14.38% -2.63% -8.6%
Total Long-Term Liabilities $3.340B $3.437B $3.380B
YoY Change -5.86% -5.68% -4.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $668.1M $724.4M $734.2M
Total Long-Term Liabilities $3.340B $3.437B $3.380B
Total Liabilities $4.096B $4.253B $4.299B
YoY Change -4.48% -4.36% -3.21%
SHAREHOLDERS EQUITY
Retained Earnings -$131.9M -$164.3M -$164.8M
YoY Change -38.94% -35.82% -45.91%
Common Stock $703.6M $719.3M $751.3M
YoY Change -10.62% -10.5% -9.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $238.1M
YoY Change -4.34%
Treasury Stock Shares
Shareholders Equity $191.3M $170.6M $210.7M
YoY Change
Total Liabilities & Shareholders Equity $4.287B $4.424B $4.510B
YoY Change -3.36% -3.36% -1.37%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $32.40M $1.900M $19.70M
YoY Change -19.0% -96.12% -105.43%
Depreciation, Depletion And Amortization $28.90M $30.00M $29.70M
YoY Change -4.93% -6.54% -8.9%
Cash From Operating Activities $36.80M $178.1M $98.90M
YoY Change -25.2% 10.62% -7.74%
INVESTING ACTIVITIES
Capital Expenditures $26.50M $25.50M $21.40M
YoY Change 188.04% 168.42% -276.86%
Acquisitions $11.60M
YoY Change
Other Investing Activities -$1.000M -$11.60M $0.00
YoY Change -1757.14% -100.0%
Cash From Investing Activities -$27.50M -$37.10M -$21.40M
YoY Change 198.91% 321.59% 78.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -83.10M -$110.8M -48.20M
YoY Change -32.98% 39.55% -39.22%
NET CHANGE
Cash From Operating Activities 36.80M $178.1M 98.90M
Cash From Investing Activities -27.50M -$37.10M -21.40M
Cash From Financing Activities -83.10M -$110.8M -48.20M
Net Change In Cash -73.80M $18.40M 29.30M
YoY Change -12.14% -75.47% 84.28%
FREE CASH FLOW
Cash From Operating Activities $36.80M $178.1M $98.90M
Capital Expenditures $26.50M $25.50M $21.40M
Free Cash Flow $10.30M $152.6M $77.50M
YoY Change -74.25% 0.73% -35.04%

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